In a bid to remind Gen Z of the benefits of ‘slowing down’, Timex has launched the second phase of its global ‘Waste More Time’ campaign. The American global watch manufacturing company is weighing collaborations to bring out the best in analog offerings and target Gen Z consumers, who wear smartwatches to the gym or on hikes but prefer analogs for their social outings.
In a chat with Storyboard18, Timex Group President and CEO, Tobias Reiss-Schmidt spoke about the campaign, brand collaborations, smartwatch market and more.
Edited excerpts.
This is the second phase of the campaign. How popular was the Waste More Time campaign in India the last time around?
The first campaign film of Waste More Time was a multimedia campaign and we went all out across platforms—from television, social media, digital to OOH, etc. The total reach garnered was about 300 million across these platforms and channels. The digital and social media engagement for the same was about 5.68 million.
Tell us about the latest campaign. How does it align with your brand motto?
The new campaign edition launching in Valentine’s month dwells on the spirit of love and shows Ananya Pandey sharing a joyful moment, whispering sweet nothings to her green squad, her plants.
I believe the response to the campaign the first time around was overwhelmingly positive, not just in India but globally.
The ‘Waste More Time’ campaign had different executions in the US and other markets. Across the board, it seems we’ve tapped into the zeitgeist with this campaign, considering it as an initial step in making the idea of analog living a fundamental element of the brand.
Timex, having democratised timekeeping over the past 170 years, sees itself as the timekeeper of the world. The campaign conveys the message that, in today’s hectic times, it’s crucial to find balance, unplug occasionally, simplify life, be present, and live in the moment. The campaign resonates with our consumers and emphasises the importance of such values.
Apart from driving home the message of slowing down, what is the current focus of the business?
Our current focus centres on analog watches, with a strong emphasis on innovation through exceptional designs and compelling storytelling.
Watches hold significant emotional value, creating strong connections for individuals. Launching watches with captivating stories is a key focus for us. Our recent collaboration with the French designer Seconde-Seconde and the launch of the Timex Q series is proof of how collaborations and connections can create wonder in design offerings. These innovative launches aim to excite watch enthusiasts, collectors, and stand out as truly distinctive offerings.
Timex takes pride in being a brand with consistently exciting launches, marked by frequent collaborations and the introduction of fresh ideas. Another noteworthy addition to our series is the Giorgio Galli watch, a Swiss-made timepiece priced at $950. This minimalist design, aligned with Timex’s language, has garnered significant appreciation from the watch community. The success of launching a high-end watch reinforces the serious regard people have for the Timex brand in horology (watchmaking).
Like every other brand, is your focus also fixed on the Gen Z consumer?
Millennials, once the young consumers, are now transitioning into middle age. Understanding the preferences of Generation Z is paramount. Our objective is to cater to a broad spectrum of consumers, offering various products at different price points, including options for those purchasing their first serious watch, a strategy that resonates with Generation Z.
Our marketing efforts, notably on platforms like TikTok, have shown significant growth, with Timex gaining 560,000 followers. A couple of months back it was zero.
Collaborations with popular brands, such as the successful partnership with Supreme, contribute to our authenticity. Timex’s heritage and commitment to quality at an accessible price point are key elements appreciated by consumers of all ages, reinforcing our growing following among younger demographics as well.
How important is India for Timex as a market?
The Indian market holds immense importance for us, ranking as our second-largest revenue source after North America. Beyond the current contribution, India stands out as a key focus for growth due to its vast opportunities. From a growth perspective, with a population that continually moves into the consuming class and watch penetration still below 15 percent, there is significant potential for expansion, especially considering that multiple watch ownership is below 5 percent. The market is expansive, growing faster than many others, with traditional watches experiencing an annual growth rate of around 10 percent.
Having been a presence in India for over 35 years, our brand enjoys strong awareness, high appreciation for quality and value for money, and robust relationships with trade partners. The alignment of these factors positions us well for continued success in India, with expectations of a growth rate surpassing that of most other markets for the foreseeable future, as has been the case in recent years.
Can you provide insights into the primary marketing strategies you plan to adopt in 2024?
Generally, for messaging, the Waste More Time campaign aligns well with a prevailing mega-trend. We have observed a shift where people seek balance amid hectic digital lifestyles, striving to disconnect from constant emails, notifications, and calls. The campaign resonates with this trend, promoting the importance of unplugging and being present in the moment for a broader perspective. This focus on balancing digital and analog life is anticipated to be a prevailing theme in our messaging, not only for 2024 but likely for the years ahead.
Tell us about the competition from the smartwatch market and what you are doing to tackle it.
We don’t view the smartwatch market as an evolution of the analog watch market; instead, we see them as distinct markets.
Purchasing a smartwatch doesn’t mean someone is lost to the analog watch brand entirely. In fact, we welcome smartwatches as an entry point. Many consumers start with a smartwatch, using it during workouts or travel, and later switch to an analog watch for different occasions like night outs and others. Our recent research also challenges the myth that only older individuals wear watches. Younger consumers, particularly Gen Z, are more engaged with traditional watches than millennials. Despite offering smartwatches to some extent, our focus remains on the expertise and tradition of analog watches, as we believe there’s unique value we bring to the table in this category.